Arizona State Retirement System lifted its position in AT&T Inc. (NYSE:T) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,564,779 shares of the technology company’s stock after purchasing an additional 37,694 shares during the quarter. AT&T accounts for approximately 0.7% of Arizona State Retirement System’s holdings, making the stock its 13th biggest holding. Arizona State Retirement System’s holdings in AT&T were worth $61,152,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of T. TFO TDC LLC bought a new stake in AT&T during the 4th quarter worth about $27,000. JJJ Advisors Inc. bought a new stake in AT&T during the 3rd quarter worth about $27,000. Bourgeon Capital Management LLC bought a new stake in AT&T during the 3rd quarter worth about $45,000. Fulcrum Equity Management bought a new stake in AT&T during the 3rd quarter worth about $51,000. Finally, Corbenic Partners LLC bought a new stake in AT&T during the 4th quarter worth about $54,000. 53.60% of the stock is currently owned by institutional investors and hedge funds.
T has been the topic of a number of research analyst reports. Standpoint Research lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Moffett Nathanson lowered shares of AT&T from a “neutral” rating to a “sell” rating and set a $30.00 price objective on the stock. in a report on Tuesday, November 19th. Raymond James reissued a “buy” rating and set a $45.00 price objective (up previously from $40.00) on shares of AT&T in a report on Tuesday, October 29th. Deutsche Bank initiated coverage on shares of AT&T in a report on Wednesday, January 22nd. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Sanford C. Bernstein initiated coverage on shares of AT&T in a research report on Tuesday, October 15th. They set a “market perform” rating and a $36.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $39.50.
AT&T stock opened at $38.25 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.79. AT&T Inc. has a 1 year low of $28.92 and a 1 year high of $39.70. The company has a market cap of $279.42 billion, a PE ratio of 17.15, a PEG ratio of 2.44 and a beta of 0.62. The company’s 50-day moving average is $38.69 and its two-hundred day moving average is $37.04.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, January 9th. This is an increase from AT&T’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a yield of 5.44%. AT&T’s dividend payout ratio is presently 59.09%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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